that's "studio b" on a wednesday, no, tuesday. only tuesday ... one more day d then turkey. glad to have you. dow jones industrial average not good today. on the slide, they are ring a closing bell again which is nice and neil cavuto is next to give us context on the day's news and the markets. until then, go day. >>neil: last stop on the express, stocks diving completing a ritual of red playing out everywhere. and all because of a nut on a rampage without a response. welcome, everyone, i am calf 6:00 and maybe kim chong-il is sick because what the leader it is nothing short of crazy and the global response and tattered markets, nothing shy of stunning

now, the world-wide focus on the nut with the missiles and maybe the bomb. because strong indications that north korea is not only willing to launch for missiles but revealed something else. an operational nuclear enrichment program, just what we feared courtesy of a crazy leader. is he crazy enough to know we could condemn but little to do? because we are too busy figuring out what to do. former secretary of state says kim chong-il knows that and upping the ante from putting missiles in the ocean to showering dozens on a south cran island. is this guy playing the world like a fiddle? >>guest:ing he is. i don't think, i think it is dangerous to call him crazy. he is an exact copy of what happens when you get a small

country with maniac desires and they can do damn near anything because we let them get away with it. >>neil: we used to protest when they fired into the ocean, missiles that went nowhere but this was a targeted response to targeted area that killed people and destroyed homes, and, yet, the collective response, globally, is, stop that, essentially. >>guest: but we have talk about this before, sir, and both of us have said, before, that this was going to escalate, and there was no way to stop him because we were not stopping him at the beginning but letting him go on. that is now, what have we inherited? >>neil: china could be the calming player or not? >>guest: of course, of course, and that is where i am not sure we have done very good diplomatic homework. i would love to be asked to go do beijing and talk to them for

two or three days. i think there could be something that could be done. >>neil: why want to jump to conclusions that are not concluded so to speak, but do you think it's possible that china could be looking at this and saying, well, the world doesn't make a fuss, north korea attacking south korean island ... maybe the world would not make a fuss if we ever wanted to take back taiwan. >>guest: i think it is possible. there is no question. i don't thing they have come to that. but in part, look i am going do do what i do attacking this administration, but there is no question in my mind that as far as beijing looking at us, they have to feel that this president is going to do everything he can to avoid any kind of a confrontation. now, whether that will lead on to the next president or not and the next administration, i can't

be sure, but what i can be sure of, that whoever follows this president is going to have to do some things that he rather would not have to do to put us back in a position where someone pays attention to us. >>neil: but this is a very different situation from a candidate obama who promised, in the fall of 2008, that the bush administration's approach to the north koreans was wrong, and this is what he said back then. >> north korea we cut off talks, we cannot deal with them. and, you know what happened? they went, they quadrupled the nuclear capacity, they tested a nuclear, they tested missiles, they pulled out of the non- non-pro-liftion -- proliferation agreement and santa nuclear agreements potentially to countries like syria. >>neil: they have ignored all presidents regardly of the

party. >>guest: there is a lot to that but i am inclined to think if i know at least one president i think would have handled things differently and that was the first president bush. in terms of thinking back how we talked about it on occasion he would have been ready to be much more focused. but enough of these times with korea, reminiscent of how we got in the first world war, by the way, and nobody would remember that, but aiming for something a little less. but, this activity of north korea and our failing to do something at an early stage you have to worry that there could be an accident that could lead us to a nuclear war in asia and under those sicks, the south has one great disadvantage, and that is that the north has nuclear

weapons. >>neil: what happens, now? >>guest: whether they would be willing to use it, i don't know. >>neil: how much does that play into kim chong-il's strategy here, that the world is divided by bailouts and rescues, and a lot of sidetrack issues and we are not focused on this and he knows we are not focused on it. >>guest: that is a very good point about the lack of focus. i don't think this administration has been focused on foreign issues, foreign affairs, very often, in the two yours so far. but that having been said, all the west right now is worry about its own domestic economic problems and it is a good point that this has pulled us all away from looking at this sort of thing except when they shoot at this little island and then we get reminded of it for a couple of days but our mines are on other things and that is a very,

very for point and, by the way, again, i think the korean leaders, north korean leadership understands that. they know what is going on here. they are not as crazy awe think they are. and we are getting, when they got the nuclear weapons, that is why syria and, rather, not syria, iran, in its way, is kind of a second thought, the first time that the north koreans got it, were getting it, we should have stopped it then. >>neil: you are right this could be a preview of coming attacks. thank you very much, my friend, always good and honor to have you. >>guest: the same is true here, my friend, i spent my afternoons listening to you. >>neil: then you have to get out more, larry. >>guest: you did a great job. >>neil: in indiana, the

president talking about stimulus at the chrysler plant, the same state where democrats lost three seats two in the house and one in the senate because of this bigger government move. former democratic pollster is here saying the president doesn't get it and the timing of the visit illustrates that. what do you think? >>guest: well, this is, symbolizing the problem, the president is out there in indiana and the "washington post" said this afternoon, there is no way not to look at this in some ways as the launch of the 2012 re-election, avoiding my advice from a week ago, out there the same way that hill is being fired after the election who challenged him and said she was exhausted supporting him. he does not answer that, he is at the g.m. plant doing at a moment when the north koreans have proven they seem to act

with impudent, impunity. impunity. >>neil: but you raise ans length point, your point a couple of weeks ago, back it up, mr. president, and make yourself an effective one termer, and obviously he is not seizing on that and maybe he thinks there is another way to go and visiting this state proon -- proves it. what is wrong with pointing to these jobs? >>guest: he is going to promote something about the g.m. stuff that nobody believes, and the person would headed the auto task force is basically having -- he is fined and taxed on wall street, and he was fined. but more importantly, he is doing this in the biggest issue in front of people right now traveling tomorrow or the next day, is the t.s.a. and the scans

and more importantly tree ump -- triumphed by north korea and we look weak in arussia and he looks weak there now and the point that was made, i thought, boy, this is really going to frighten the iranians, right? we are really showing them how tough we are and it comes back to the issue of china. all the things you touched on, these should be occupying the president. they seem tone deaf, a problem we just get out there and continue to say we are doing better than you think, and, by the way, part of it is the republicans have no narrative. i said that before the election. i said it to you election night and after the election. he is allowed to quote roger, the president is able to make the narrative and i think they think that is being successful. >>neil: but, you know, pat, i'm looking at the phone numbers with the republican presidential runners, and for all his

problems and his sinking approval ratings, he is not doing that poorly, against romney, he is even. and it is early with huckabee, it is a horse race, so, is is if he is so pathetic, the poll numbers have a funny way of showing it on one-on-one match. >>guest: he is not at all. and that is my point for weeks and months. the republicans are not challenging a national narrative. the president has gotten off scot-free and you can see it despite the lower ratings they are not add -- as bad as they could be and as much as people disagree with the policy they do not associate it with the president. that is a failure. and the question for next year as we begin the campaign, what we have a dozen republican candidates shooting each other in campaigning, without the republican party. their big issue for the republican party in its credibility comes next week. are they going to put in someone

who fought fannie mae and freddie mac, or are they going with an establishment person, as the wall street journal said, and do something like that with appropriations? the public is not happy with the republicans. >>neil: patrick, thank you, sir. always fun. and then there is this. stay tuned. look around here. look around here. >>neil: no need to because he is not only talking about auto jobs but the your world website which is a big deal without any thing else necessary to be stated so check out foxnews.com/yourworld.

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>>neil: do any of you remember this? i love that, a big deal for the white house eight months ago when the president signed the health care bill into law. house speaker pelosi said it would create 400,000 jobs. instantly. my ghost says -- my next guest says the broken promises are piling up. since winning republican florida governor we have risk scott here with us. mr. governor, go do have you. >>guest: thank you. nice seeing you. >>neil: no state, perhaps, is more focused on this whole

medical health issue than yours. and you are now saying the better part of valor is to junk this? >>guest: completely. a disaster for medicare recipients. all the cuts in medicare have a dramatic impact on them. and you talk to business people all across our state. as they get to understand this bilks they say, look, i can't hire anymore people because i cannot afford this. so, it is going to be the biggest job killer, ever, so we have to completely repeal it. >>neil: ease are said than done. things like this sound good but implementing them, by the courts or what have you is uphill fight what about fixing stuff? >>guest: well, this bill needs to be scrapped. we need to start over and think about how you fix health care. you do that by figuring how to make it less expensive so people cannot ford the health care and create more competition and gives individual tax breaks so

they own their own policy and reward people for taking care of themselves. that will fix the health care system. not a government take over. each time the government runs health care program, three things happen: they overpromise; they run out of money; they rash on care. this is a disaster that should be replaced. the federal government should do with medicaid, give each state a block grant and let us fix our own medicaid program and come up with each of our own plans. >>neil: the response to that as i am sure you are aware you have 50 different plans. >>guest: and that is, each state is supposed to be a laboratory. we will figure out which state does it the best. if they give us a block grant and let us fix medicaid how we want, we can do it the right way and we can afford i. but the health care bill passed will be a disaster around to country and in our state with a lot of medicare recipients, they

will be injured but the companies are getting injured. >>neil: do you thing republicans would like some sort of structured health care, romney comes for mind who could run for president, as governor of massachusetts, had a program that many argue was similar to the one enacted nationally. is he dead meat with you? >>guest: that plan cost way more than they thought. it, they will have to put in price controls to control the growth so that has not worked different than obamacare will not work. it will be bankrupting our nation and bankrupt our states. we have to replace it. and bad for patients. it is bad for patients. >>neil: thank you, saying you will not supporting romney? >>guest: i am not talking about that but talking about obamacare. the states should try to see how they want to do it. if massachusetts wants to do it differently than florida, they

can did it differently and we will figure out what works best we are all competing for jobs. i ran for governor because i care about building jobs in the state. that is what all this will come down to, who can come up with the best plan to get jobs going? i will make sure that florida is the number one state for job creation. >>neil: quickly, for all the promises of health care, all the problems with the staggering rove, the president is still performing pretty well in the one-on-one matches with romney and huckabee, and sarah palin. are you surprised by that? >>guest: you know, it is not the first thing. i think about each day if i have to get the state back to work so it will be interesting to see what happens in the national elections in two years. right now i got elected to be the jobs guy, the jobs governor and i put out a plan, citizen -- citizen steps to 7s jobs getting companies to move here and

exexpands here and things like that. >>neil: thank you, crawgs on -- congratulations and very few saw that coming, rick scott, florida's governor elect. paying for wind power you will paying for wind power you will never use. [ male announcer ] opportunity is a powerful force. set it in motion... and it goes out into the world like fuel for the economy. one opportunity leading to another... and another. we all have a hand in it. because opportunity can start anywhere, and go everywhere. let's keep it moving. ♪

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>>neil: the administration boosting wind power along the atlantic coast. can you see higher utilityies bills as a result of energy you do not use? our guest is concerned. even if we have no wind we are

paying. >>guest: we spent more money on wind and solar power than it cost to put a man on the moon. that is an amazing statistic. we spent over the last 30 years, over $75 billion on reunusual energy -- renewable energy. let all the different forms, natural gas, nuclear, wind, solar, let them compete and get rid of all of the subsidies, but lock at wind and solar and they get 10 to 15 times more subsidies for electricity than oil, natural gas and nuclear. so, this new facility i am for it if it can pay for it sell. what the obama administration is saying is put tax subsidies into this to make it financially viable. >>neil: we talk about this, federal policy has never been good predicting what is ahead. >>guest: ronald reagan campaigned on that in 190 and

the stimulus pill, with -- bill, with huge subsidies and these are not, if you are concerned about global warming, because wind power and solar power are not a steady form of electricity, you need coal burn ing fireplants as a backup. so they are not official. >>neil: and the hybrid cars you plug it in and it take as lot of electricity. >>guest: and the obama administration wants to subsidize the trance pigs line -- transmission line and this is hundreds of miles offshore so to build the transmission line to bring them online is expensive. that is subsidized. >>neil: what hurt the technologies is what is first, the cart or the horse? can you have people look as this as being appealing? if wind was appealing people would have run to these a long

time ago. >>guest: it is not as if people 200 years ago did not thing, boy, we can get energy from the sun and wind. we had solar power and wind mills for hundreds of years. and after all of the money i talked about, do you know how much of the electricity we get from wind and solar? less than 2 percent. it is inconsequential. so if we increase it by five fold ... >>neil: and we would pay for it. >>guest: i don't know if you saw our editorial, at the same time we are shoving all the subsidies toward wind and solar the epa and the department of interior are not providing any new permits for coal mining, for oil drilling and so on so we are tilting the playing field in favor of the most inefficient electricity. >>neil: or tilting the wind

mill. >>guest: good. and what effect does this have on utility prices? it will mean higher electricity prices. sorry. >>neil: you have been right about a lot of stuff along the way. thank you. and now, all but breaking kneecaps to breaking bread. why some business people are dreading a certain white house initiatives. ñ÷ [ male announcer ] it's simplehysics...

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tell your doctor about your medical history and find an arthritis treatment that works for you. ask your doctor about celebrex. and, go to celebrex.com to learn more about how you can move ward relief. celebrex. for a body in motion. >>neil: tax cuts in limbo, and the white house reportedly set with a new plan, forget the bush tax cuts, we are now talking

luncheons and private meetings with c.e.o.'s again. and now, skip the sandwiches, just slash the taxes. so, jim, you are getting tired of this stuff. >>guest: good to see you. skip the sandwich and give them something they can dine on. quit talk and start the walking. businesses are tired of the uncertainty created by the administration. higher health care costs, higher social security taxes, payroll taxes, and they want the bush cuts, extended permanently, the bush tax cuts extended permanently. >>neil: we are going through all the meeting the president has had since he came to office with different groups from the health care to the auto guys to the banking guys to environmental leaders, but you saying nothing has come of this because all of the leaders are ticked off after they leave,

right? >>guest: they are ticked off. and tired of trying to be charged to death. it is not working because of all the real things that are thrown at them as soon as they walk out the room. they are seeing attack, attack, attack and nothing to hang their hat on. and all the phone calls and meetings, and press conferences, and all of these things where the president is trying to show he cares, belie the fact that the actions show that he is attacking small business too frequently. too much uncertainty. and that is the enemy of job creation. do something that business can hang their hat on. cut the tax rates. >>neil: but he added more to that today with the comment on the bush tax cuts and their extension and made it very clear something dear to them will not happen soon. from the big guy. >> we disagree if we can afford to also borrow $700 billion to pay for extra tax cut for the wealth of the americans, for

millionaires and billionaires. i don't thing we can afford it right now. not when we are going to have to make tough decisions to bring in the deficits. >>neil: so the upper income which now is extended to millionaires and billionaires, they are all part of the same crowd and leaving that out, obviously, a hint of a compromise of two or three year extension is out the window. how did that go down with business? >>guest: it does not at all. look, all the small business owners and most of my clients small business owners, i talk to them each day the last thing they want to do is take on a new employee when they have all this uncertainty. forget health care costs, the biggest uncertainty, they did not know what the tax rates will be, and most small business owner, they are the ones that create jobs. 70 percent of small job creation are people like us, they might make $200,000 or $250,000 and they are not rich. they cannot hire people.

>>neil: thank you from dallas. and a relationship with big business has more mixed signals than a bad marriage so i decided to go do my buddy, cooper lawrence. she helps in relationships. >>guest: this is a relationship we are talking about. if you look at marriage counseling it brings two sides together to look at each other's sides and get a perspective so each side can be happier. if we applied more of our relationship stuff to business stuff we could have good stuff. >>neil: there have been a lot of sessions, right? we talk about the sessions with business leaders, and they are not lacking for want of getting together. but you saying they actually have to do something. >>guest: they don't listen. you it is there with a couple not getting along you find each one has an opinion, each has a side, but they do not have empathy for the other.

>>neil: we will talk what the president has to do. if the other side is saying and this is representative, we want tax cuts, we want certainty, give us some certainty, should heathrow them a bone, one or two year extension? >>guest: that is what a relationship is, compromise. the first thing a marriage counselor would say, compromise. because in order for each side to be happy you have to give up something, you cannot be stubborn. if you are stubborn, whether politics, business, or who is tabling care of the kids it is the same thing. >>neil: what do they have to do? >>guest: give up something they don't really want to give up. that is the idea of creating a relationship. >>neil: what about we will raise you? >>guest: if that is what he needs, why not? >>neil: what if they ask, you in turn, mr. president, quit calling us growedy and fat cats? >>guest: name-calling does not keep a couple together. name-calling is a dealbreaker

for a lot of people. you call me a name i am not coming to the tail but obamas have a happy marriage so if he can apply the principles to his business world, everyone would be happier, certainly him. >>neil: he is a very friendly guy, why can't he relay that with business on a consistent basis. >>guest: couples do the same thing. do you know how many successful women i know who are single at 50 because they cannot apply the business techniques to their marriages or their relationships with men? it is a common thing, people keep the two things separate and it is the same. it is relating to somebody else, giving someone else what they need, even if you don't want to, stop being stubborn. group hug. >>neil: great job, planning to pay cash for everything this christmas? credit card companies have an alternative.

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>>neil: 70 percent of americans are planning to pay cash for the fruitcake this christmas. so, what are the credit card companies doing? offering major rewards to get the 70 percent back. and now, do not fall for that deal. he joins us from his hit radio show, dave what do you make of had? obviously the credit card companies are worried. >>guest: there is a great book by my friend called "tribes," talking about the ancient ways of marketing that were done in the 60's and 70's to get the public involved in product lines are so old they will not work, and the idea of drumming and drurming and drumming and hitting the same beat over and over and over and people fall for it, that is done. those days are done. the consumer is more sophisticated, and smarter, and they just went through a recession and are in the going back in. the credit card companies are taking it on the coastline and

they will continue to. >>neil: so, whatever they are offering, do not be sucked in? >>guest: of course, don't be sucked in. ridiculous. a b.a.i.t. -- a bait and switch. you will get hooked. don't do it. just understand that this is a game to get you in and the trick is, these are multibillion dollar companies, they focus group you so much they know what you drink before they make the offers. they do not make mistakes in marketing offers. and people are so arrogant they say i am smarter than bank of america and smatter than city or sears and i am going to take them on and i am going to win and beat them. i will get the discount and nephews the card. well the numbers temperature us you are full of it, and you will use the card. >>neil: let me ask a personal question, the rich tighten that

-- the rich titan that you are, and you are tight with buck. you go christmas shopping at the mall, like a wad of bills or what are you doing? >>guest: i tell people, santa says make a list and check it twice and but the a dollar amount besides each name and total it, and you can do that on the outside of an envelope called the christmas budget and put crash in the envelope. >>neil: but you have a thick envelope going to the store, right? you are the guy would i will mug because i know you have that big old envelope. but that puts you ahead; that practical? >>guest: absolutely. very practical because what else happens when you spin the money, it hurts, you carry the $100 around in your wallet, and you

spend less the studies show. >>neil: what about debit cards, they are the sail thing as cash. using them. >>guest: kind of between cash and credit cards because you do not feel the pain as were because you do not handle the green but you do have the connection in your emotions that something just happened to your checking account. so be came -- careful. >>neil: so you are shopping for me and you have the envelope, and you only have a limited amount for me, you have written a number in mind for me, and all i am getting is the single sausage roll. >>guest: you pit in your order. you put in your order. you want the sausage roll from hickory farms. >>neil: good advice. thing of this before you get in knee-deep. great to see you, dave. >>guest: happy thanksgiving.

>>neil: love, love, love that guy. north korea's attack on south korea pushing the dow down and gold is going as the dollar was rising, and normally that drives down the gold prices. and why is chrysler getting applause from this president and nissan and walks wagon -- and volkswagen, nothing?

>>neil: a pick me up letter to the t.s.a. employees during the groping and feeling up and all of this stuff that has people ticked off. she is wanting their backs

saying as we prepare for the holiday travel season, janet napolitano writing i want to personally thank you for your work and the threats we face in aviation are real and we are meeting them with a strong and dynamic response that has tick off a lot of people flying and the agents but she says keep doing what you are doing. feeling what you are feeling. doing what you are doing. and the president in indiana at a chrysler plant being back on line and on the way back to doing well, a long way from the state of tennessee where a knee -- nissan plant has hired more people, and another that will employ 2,000 workers, and we have democratic congressman. do you feel slighted? >>guest: not really. i am happy we have investment in

tennessee and chrysler is an all american name and i would like to see general motors and ford sell a lot of product. >>neil: you did vote for the bailout, congressman, and you thought it would benefit everyone, but i guess i would is liked to have eastbound any president come to your fine state to back american auto workers, even those who work for foreign players, but i didn't see that. >>guest: i don't know why he was in indiana but general motors is would i want to see succeed i want american automobile business successful. we need to invest in america and make the middle class large part of our economic come back so they can spend the money necessary to get us out of this recession. >>neil: i have had a lot of these auto company executives on my fox business network which if you do not get you should demand, and something that came through in a lot of interviews, was that some got ticked off that g.m. might have an

advantage that not only a favorable treatment from the government but that it is sort of preferred auto company, and that they are at a cost and other disadvantage. do you buy that? >>guest: i don't have a problem with that. we have exported too many jobs overseas, and we have outsourced. when i pick up the phone and try to get a flight to louisville and i get something from indonesia and they ask me which louisville i want to throw up. you caught to be able to get an american person that knows where louisville, kentucky, is, and i think if we help our industries here and create jobs in america that is great. >>neil: and then we should be as gung ho on nissan coming out with a car like the leaf that, i guess, will get better mileage than the volt? >>guest: well, we ought to get mileage with our american cars, but the american --. in>>neil: you are getting better

miles? >>guest: the general motors executive stays in this country and nissan, the money guess to japan and i want americans to prosper. >>neil: so you are rooting for the executives in another state than all the workers in your own? >>guest: i am for american products. i was an american league fan when they had mickey mantle. i am staying american. >>neil: my question was what you are more inclined to sport michigan jobs than the ones in your fine state? >>guest: i am for jobs in america but for american production and bringing jobs back to america and i am for american companies being successful. >>neil: you like those guys in michigan a little more? >>guest: i like members. >>neil: good answer. congressman, where do you stand on the tax cut debate? the president is making it clear in the indiana stop that no

compromise on extending the tax cuts for the wealthy which means, i guess, at the rate they are going in the lame duck session these are toast? >>guest: what i hope will happen we will vote open the 98 percent, and that is, even that is contributing to the deficit but not as much as the upper 2 percent included an additional $700 billion over 10 years to the deficit and we have to deal with the deficit and that will deal with tough decisions. not only taxes but spending. and i am willing to make the tough decisions. >>neil: but what is weird, i love you dearly, and you allegation answer the question but this deal on the party of your, the zeal on the part of your party for deficits, like me discovering salad suddenly, where did that come from, a few months ago you bashed 20 different, rather, passed 20 different so-called emergency measures that did not have to paid for and cost over $200 billion, and no one said

anything about there and now you found religion, and now you care about it. >>guest: well, i have always cared about the deficit and john tanner, my colleague, and the blue dogs talked about the deficit more than anything but they were defeated independent of the fact they were deficit reduction people. we need to make difficult decisions. i am willing to make them and i don't think the recommendations of the committee or the bipartisan recommendations made this week should have been tossed out or tossed out by nip. the 2 percent cuts for the richest, the senate republicans ought to be forced to fillibuster on the floor, stand up there like stewart and fillibuster into christmas night and tell the american public they will keep 98 percent from a tax break because they are concerned about the healthiest in the country, and the wealthiest in the country ... happy thanksgiving. >>neil: the story is not

stocks but investors the world over are running someplace else because of a nut. .

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>> neil: in the end, when push comes to shove, they need us. they don't love us. many don't even like us, but they need us. they rip us, but when everything hits the fan, they looks to us. this whole korea thing proves it again. as markets the world over started quaking when the missiles were firing, where do you think a lot of investors were running? to our dollar! to our dollar. it hit us versus the dollar today. our buck. align the world over investors who only plain about us when it looks like the world is crumbling around us. today is the latest example, i've seen it again and again.

when everything goes nuts, every nut who ever ripped us goes to america. because i didn't catch any flight to quality in china. or germany. or france. or any other country, save this country. with all its problems and deficit and the inconsistency, just this consistency. on our worst day, a better alternative to any other country on its best day. that says something about us. sure, we've got bumps, but we're still a beacon. nothing proves it like putting money on it, on us. today the story wasn't stocks my friends. today, the story was a port in the storm. found here, my friends. us, my friends. only here. the new world order clearly recognizing the old world leader. it's good to see. it's good to know. it's good to us.